16 Best Income Stocks To Buy According to Analysts

7. Nutrien Ltd. (NYSE:NTR)

Upside Potential as of December 13: 19.8%

Nutrien Ltd. (NYSE:NTR) is a Canadian fertilizer company and one of the largest potash producers in the world. The stock is down by nearly 10% since the start of 2024. The company’s challenges are reflective of broader issues in the agricultural sector, including falling crop prices and global trade disruptions caused by geopolitical tensions. However, its diverse portfolio, which spans potash, nitrogen, and phosphate products, offers some protection against market volatility. Additionally, Nutrien’s investment in digital technologies and sustainable farming practices places it in a strong position to benefit from long-term industry trends.

In the third quarter of 2024, Nutrien Ltd. (NYSE:NTR) reported revenue of $5.09 billion, which fell by over 5% from the same period last year. The company experienced higher potash sales volumes and reduced operating costs during the first nine months of 2024. This was achieved by leveraging the strengths of its six-mine network and global distribution capabilities to meet rising customer demand. The company is also witnessing strong crop nutrient demand in North America for the fall application season, following a period of reduced field activity in the third quarter.

Nutrien Ltd. (NYSE:NTR) is one of the best dividend stocks for income investors as the company has raised its payouts for five consecutive years. The company offers a quarterly dividend of $0.54 per share and supports a dividend yield of 4.40%, as recorded on December 13.

Nutrien Ltd. (NYSE:NTR) was included in 33 hedge fund portfolios at the end of Q3 2024, compared with 35 in the previous quarter, according to Insider Monkey’s database. The consolidated value of these stakes is more than $411.7 million. Among these hedge funds, Millennium Management was one of the company’s leading stakeholders in Q3.